If at first you don’t succeed, go bigger.
A development company hoping to convert Iola’s three former elementary schools into apartments is expanding plans for its first phase of construction.
The goal is to make the project more attractive for state funding by offering new construction of three-bedroom units near McKinley in addition to remodeling the old schools.
The USD 257 school board heard an update on Monday from representatives of BNIM, a Kansas City architect and design firm that has partnered with construction companies and developers for the elementary school project.
The firm has been meeting with Iola’s community leaders since 2020, and specifically on the elementary school project for about two years.
“It’s a long process and we appreciate your patience. We would go faster if we could,” James Baker with BNIM told the school board.
THE PROJECT relies on a mix of funding, including low-income tax credits from the Kansas Housing Resources Corporation.
After passing the preliminary round, their application was denied over the summer. That was disappointing but not surprising, Baker said. The tax credit program is very competitive.
So, they’ll try again in 2024. Successful awards will be announced in the summer.
The tax credit process uses a scorecard to determine which projects will be funded. BNIM’s 2023 application was strong but just missed the mark, Baker said. They’ve reviewed the scorecard to see where they can improve.
The answer: Three-bedroom units.
Originally, BNIM planned three phases of construction.
The first phase would convert McKinley and Jefferson elementary school buildings to one- and two-bedroom apartments.
Phase 2 would build apartments at Lincoln.
Phase 3, initially proposed more as a theoretical long-range option, would build other types of housing on green space surrounding the schools. It could include single-family units, duplexes or apartments.
